Cooper & Turner Combines With Beck Industries
1.8.2019 19:17:00 EEST | Business Wire | Press release
Andaray (Holdings) Limited and its direct and indirect subsidiaries (“Cooper & Turner”) today announced it has acquired Beck Industries (“Beck”), a manufacturer and distributor of fully certified, high-security bolting components. The combined company aims to be the first truly global manufacturer of safety-critical fastening applications, supporting a broader range of industries – including renewable energy, downstream oil & gas, power generation, nuclear, rail, tunneling, construction and heavy equipment, among others.
Established in France more than 100 years ago, Beck is now a global organization with capabilities that complement and expand those of Cooper & Turner. As one entity, the company’s services span all key production processes, including hot and cold forming, heat treatment, CNC machining, thread rolling, robotics and automation. These collective capabilities and larger operational footprint enable the supply of world-class products and services from 17 strategically positioned facilities throughout Europe, North America, Asia and North Africa.
“We are excited to join the Cooper & Turner family,” stated Hugues Charbonnier, former Beck President, who together with his wife Karine Charbonnier are selling Beck and both remaining on the management team as Executive Vice Presidents of Cooper & Turner. “Our complementary technologies, facilities, services and product portfolios will form an unequaled platform to serve local and international clients.”
“Today’s acquisition strengthens our position as a seamless, one-stop shop for the highest-quality, mission-critical industrial fasteners,” stated Tony Brown, Group CEO and President, Cooper & Turner. “Supported by our partners at the Watermill Group, we see tremendous opportunity to accelerate innovation and growth within the global energy and infrastructure markets.”
Watermill Managing Partner and Founder, Steven E. Karol, commented: “This is an ideal time for these companies to come together. Both are thriving and well positioned in their respective markets. We are looking forward to supporting the combined management team in capitalizing on the inherent opportunities.”
MidCap Financial Services, LLC provided debt financing for the transaction and K&L Gates LLP provided legal counsel to Watermill. Rothschild & Co. advised Beck and Almain A.A.R.P.I. provided legal counsel.
About Cooper & Turner
Founded in the 1800s by Joseph and James Turner as a gun barrel manufacturer, Cooper & Turner is a UK-based manufacturer and distributor of high-strength, large diameter industrial fastener systems. The company serves global organizations in the wind energy, construction, structural bolting, OEM, oil & gas, rail and tunneling industries. Headquartered in Sheffield, England, Cooper & Turner has operations in the United Kingdom, China and North America.
About Beck
Beck Industries International Sprl is a European manufacturer and distributor of fully certified, high-security bolting components for refineries, power generation, subsea oil & gas and the nuclear power end markets. Founded in 1918 by Hélène Beck Crespel, the company is now a fourth-generation family business that has grown into an international entity with nine locations in Europe, Asia and North Africa. Learn more at beck-industries.com.
About the Watermill Group
The Watermill Group is a strategy-driven private investment firm that helps companies achieve their full potential through strategic transformation. For more than four decades, the family owned and managed firm has been acquiring, operating and improving companies. Watermill looks for businesses in which it can apply a unique combination of strategic insight and management expertise to re-imagine their future and drive growth.
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Contact information
Joanna Clark
CXO Communication for Watermill
+1 207-712-1404
joanna@cxocommunication.com
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